2023 C Corporations Update

Author: Bradley Burnett

Per the IRS Education Provider Standards this course must be COMPLETED by 12/31/2026 to receive credits. NOTE: Go to My Professional Profile in your CCH CPELink account settings to ensure your name, and PTIN number; matches your PTIN card

C Corporations carry unique blessings and curses all their own. Tax law affecting C Corps continues to change. Join Bradley Burnett, J.D., LL.M., as he gets you up-to-date with what you need to know to plan now and face the coming year.

Publication Date: December 2023

Designed For
Return preparers, tax planners, and taxpayers desiring to keep up with law changes affecting C Corps.

Topics Covered

• Planning in Advance for Sunset of TCJA 2017
• Treasury Priority Guidance Plan 2023-2024
• Inflation Adjusted Amounts for 2023, 2024
• Adjusted Minimum Late Filing Fee
• A Federal Income Tax Must be Constitutional
• Alter Ego - IRS Reaching for Corporate Assets
• Authority to Assess Form 5471 Penalty - IRS Stopped in its Tracks
• C Corps and Disregarded Entities Interaction
• Accounting Method Changes
• Applicable Federal Rates (AFRs)
• C Corporations and Buy-Sell Agreements
• Information Reporting and Income tax Returns Electronic Filing
• §6672 Trust Fund Recovery Penalty - Merely Signing Checks Made Middle Manager a Sitting Duck
• COVID Employee Retention Credit (ERC) Effect on Income Tax Returns
• IRS Procedure
• 2022 IRS Data Book

Learning Objectives

• Identify and apply new developments affecting C Corps
• Identify after what year many non-corporate provisions of the TCJA will expire
• Identify the 2023 IRS standard mileage rate with respect to business travel
• Identify the form to be used for conducting TFRP interviews
• Identify the §6621(c)(1) Large Corp Underpayment Rate for the period of 10/1/23 through 12/31/23

Level
Update

Instructional Method
Self-Study

NASBA Field of Study
Taxes (2 hours)

Program Prerequisites
Basic understanding of C Corporations.

Advance Preparation
None